PUNE: The definition of an affordable property varies across the country and changes from city to city. An affodable housing segment of Mumbai may possibly fit into the premium segment of Tier II cities. Pune’s realty market is very dynamic and it offers space for all the segments, but the locality is different for each property class.

PUNE: While the infrastructure of Pune has been comparably better than in many urban centres across the country, there is no denying the fact that the kind of urbanisation and migration that is happening in the city, is leading to increased load on its infrastructure. Moreover, since most of the infrastructure has been created by private realty developers in the city, of late, there has been uneven development of infrastructure across the city.

PUNE: There is a provision in the Maharashtra Stamp Act for the refund of stamp duty in certain cases; for example where a property property transaction intended is not completed. This is, provided the application for refund is made within the prescribed timeframe. Some of the provisions for refund of stamp duty are briefly given below.

PUNE: Pune’s residential real estate market has evolved in formats. From huts to wadas; from independent houses to skyscrapers, the realty market in the city has seen it all. However, with the rising skyline in Pune, the bungalow culture, which once defined Pune, is now slowly getting reduced with only a few locations offering independent homes. “None of the residential formats available now and in the past, have had such an enduring appeal as bungalows. Pune is a city with a unique blend of in

PUNE: The Maharashtra Regulatory & Development Act (MHRDA), 2012, promises to bring more transparency and accountability helping both builders and property buyers, Satish Magar, vice-president of the Confederation of Real Estate Developers Associations of India (Credai) – National, said on April 15.

PUNE: Pune’s residential property market has maintained its momentum, even in a challenging economic environment. It is true that residential sales have slowed down even in Pune. However, it is also a fact that they have remained healthy enough to sustain the viability of the city’s real estate market. That is why Pune’s developers continue to launch fresh residential projects. The Gera Realty Report Pune, for the period July 2013 to December 2013, indicates an increase in supply through the lau

PUNE: In 2013-14, the department had set a revenue target of Rs 327 crore, but ended up earning Rs 335 crore. Pathan attributed the increase in revenue to simplified procedures. “The department has to grant the building permission to the applicant within two months of the application if he has fulfilled all the necessary conditions. Earlier, we required around two months to give the permission as the officials had to conduct physical verification of property ownership documents. Now, online scru

PUNE: The slowdown in major real estate cities of India, has resulted in the emergence of new markets around tier-II cities. Higher costs, liquidity problems and falling investor interest, have diverted the developers and investors, to explore new markets in the country. The immense potential in emerging cities like Indore, Ahmedabad, Nagpur, etc., has drawn a lot of attention from real estate buyers and developers. Experts believe that emerging markets have a lot of potential to deliver in the

PUNE: Gudi Padwa is believed to be the most auspicious time for a ‘new beginning.’ The emotional quotient of buying a property on this propitious day is very strong. Many prospective buyers wait for months and put in all efforts to lock in on a deal, on this day. Developers have come forward to lure the buyers and offer a wide range of properties to every segment, including end-users and investors.

PUNE: Conventional wisdom of real estate suggests that in times of slowdown, the emerging markets outperform the matured markets. The matured markets are expected to correct or crash during tough times. However, Pune has been bucking the slowdown blues and has maintained a uniform appreciation across the micro markets of the city, something that defines how resilient Pune’s property market is.

PUNE: While most of the metro cities are dealing with the problems of increasing urbanisation and the load on the land and infrastructure has led to several issues, there are cities like Pune, which seem to be learning from the mistakes of these metro cities and the late-movers’ advantage seems to be helping the city grow holistically, in terms of its real estate developments and infrastructure issues. What makes the case of Pune even more unique and the reason why it is rated as better than the

PUNE: Pune-based real estate developer Panchshil Realty, has signed brand licensing agreement with another real estate Pune based developer Elite Landmarks to develop mid size apartments in Pune. According to Panchshil, this is a first-of-its-kind brand licensing in India.

PUNE: Rapid urbanization and demographic changes, especially in the emerging markets, will lead to substantial growth in the real estate investment industry, over the next six years. At the same time as the industry’s opportunities grow, so will assets invested into the sector.

PUNE: While construction processes are increasingly adopting environmental improvements, waste minimization practices and resource inputs, are getting less attention. One of the key objectives of the national mission on sustainable habitat, released by the Indian prime minister in 2008, was to extend the energy conservation building code to new and large buildings, to ensure energy efficiency in a significant way. There is an array of challenges and barriers ailing the green real estate sector i

PUNE: The rationale behind the Maharashtra government’s notification on affordable housing, is the question that everyone, within the built environment of real estate, is asking today. There is a general feeling among the developers that the Maharashtra government’s notification for the builders, developing a housing project on a 4,000 sq m (acre) plot, to reserve 20 per cent of the area for affordable housing, is not in sync with the market’s reality. The developers call it an unnecessary burde

PUNE: Lack of transparency in thereal estate sector, has been talked about for long, and the creation of a housing regulatory body has been discussed, at the central and the state level. The Maharashtra government has taken the first step in this direction by paving the way for the implementation of the Maharashtra Housing Regulation and Development Act, 2012, which would establish the country’s first regulator for the housing sector. The state act aims to regulate and promote the construction,

PUNE: It was only a few years back when a couple of high-end luxury projects were launched in Pune; analysts were busy with the cost-benefit analysis of the surge in the market. The rising interest of NRIs, HNIs and even global realty barons, soon made everyone realise that Pune had already made its mark on the luxury landscape of India. While a large section of market watchers earlier maintained that the smaller ticket size, compared to Mumbai’s luxury property, has been the prime driver of lux

PUNE: Pune’s property market remains buoyant and expectant about the upcoming year, despite the economic slowdown and the general mood in the market. Given its performance last year, of being the second highest office space growth market after Mumbai, Pune’s realty sector is all set to get a boost this year. Infrastructure has always remained one of the leading factors for driving this growth. Great connectivity to Mumbai and a slew of projects on the anvil, such as the metro rail and Bus Rapid

PUNE: The real estate market is gradually maturing in India and therefore, it elegantly overcomes all the challenges. After the economic slowdown and a series of setbacks, the realty market has been bifurcated into two parts i.e. the realty market from the perspective of investors, and from the standpoint of end-users. Experts believe that the current realty market of Mumbai and Pune, are to remain subdued from the investors’ point of view but if you are an end-user, then this can be a good chan

PUNE: Pune’s pace of urban growth has been unparalleled, with the increasing number of migrants. This influx has required major infrastructure upgradation on all fronts, including road connectivity, parking facilities, public transport and electricity and water supply. It is also clear that Pune’s growth is not a temporary phenomenon – the city will expand exponentially in the years to come, both, geographically and in scope. If the development authorities do not take a realistic look at what th

PUNE: Beyond the oft-repeated developers’ rhetoric ‘location, location and location’ as the USP of the project, lies the fact that today’s prime location was once a deserted area that most developers were not ready to bet on with the kind of huge investment that realty projects demand. It has not just been the huge investment involved but the infrastructure, or rather lack of it, which often made them play safe. Though, in some of the cases, the government authorities took the initiative to prov